[roomi07]

@captain forest
Hello... I have just joined this interesting community,I have just asked a question.. how can I make it find you.. it's a real problem for me regarding trial balance.. I will be really grateful if you help me.. thnx

Hello... im a tenth grade gcse student.. ive took up accounting but I am having a problem with the topic 'Trial balance'.I know the procedure and also know that it is necessary for the totals of the debit and credit balances to match.at the end of the chapter,I have got 4 review questions,I have done 3 of them,after failing to do them correctly thrice and then getting it done by my tutor,but on this fourth question,I'm just stuck.. the totals of the balances never ever seem to match.. I want it done,by myself,to avoid more humiliation in my class...
Here is that particular question.please help me ASAP..

I thnk that I might be hard for you to find my question so,I will post the whole thing here.. sorry if I am breaking any rules..

-a guy called G Frings starts a business with $10500 cash.
-he put 9000 of the cash into the $bank.
-bought goods for cash $550
-bought good on credit from the following-T Dry $800;F Hood $930;M Smith $160;G Low $510.
-bought stationery on credit from buttons ltd $89.
-sold goods on credit to the following-R Tong $170;L Fish $240;M Singh $326;A Tom $204.
-paid rent by cheque $220.
-bought office fixtures on credit from chiefs ltd. $610.
-paid salaries in cash $790.
-returned goods to F Hood $30;M Smith $42.
-bought van by cheque $ 6500.
-received loan from B barclay by cheque $2000.
-Goods returned to us by R Tong $5;M Singh $20.
-cash sales $145.
-sold goods on credit toL Fish $130;A Tom $410;R Pleat $158.
-we paid the following by cheque : F Hood $900;M Smith $118.
-received cheques from R Pleat #158;L Fish $370.
Received a further loan from B Barclay by Cah $500.
-received $614 cash from A Tom.

That is all.and I have to prepare trial balance.
Another thing I want to share is that I add the 'loan' entry in the BANK or CASH T accounts... [as it is stated in the statement]... do I hjave to make another LOAN T account.. or my way is OK..?
Please help,and as I am new,please be simple with your possible solution... thnx a bunch.

[morgaine300]

@captain forest
Hello... I have just joined this interesting community,I have just asked a question.. how can I make it find you.. it's a real problem for me regarding trial balance.. I will be really grateful if you help me.. thnx

CaptainForest hasn't been here for quite some time. You can certainly address a particular person, but your questions on the forum are simply posted and not addressed to anyone in particular. Anyone who happens to see it can answer it. For the benefit of all who are here, we like the questions and answers to stay on the forum and be available to all passers-by. So you don't "find" someone here - you post and we find your post.

Also, please do not tag onto other threads. Start your own thread. The one you tagged onto was almost 4 years old. I had to scroll through a bunch of really long stuff just to find a brand new problem at the end. If you have more to add to your own post, fine. But new problems should be started on new threads. Also please do not duplicate post. That can get really confusing and just takes up more of our time, that we could be using to help people. I deleted your extras.

but on this fourth question,I'm just stuck.. the totals of the balances never ever seem to match.

Each entry should balance first. If the entries don't balance, the trial balance will never balance. We need to see your work. You can type it out or attach an Excel file or whatever. (Or a link to something you have online.) To start, we can take a look at your trial balance. If there are errors, we may need to see some individual entries. No one can tell you why your trial balance doesn't balance without going through everything. (Although we can sometimes spot "odd" looking things.)

But some steps you can take: Re-add the two columns. Subtract the two totals and see how much you are off. Look for this number - in the trial balance itself, in the ledger/t account, and in the journal entries. Also divide the number in half and look for that one as well. If that doesn't produce results, start working backwards -- meaning check your trial balance against the accounts to make sure you copied everything correctly, check the math in the accounts, and last resort is checking all your postings. That last is a royal pain so leave it until last.

.I want it done,by myself,to avoid more humiliation in my class...
Here is that particular question.please help me ASAP..

Unless you're at Yale or something, I'd have a hard time believing there aren't others in the class totally lost, so I wouldn't worry about it from that standpoint. The goal should simply be to understand it for your own sake.

sorry if I am breaking any rules..

Best way to avoid that is to read them:
https://www.askmehelpdesk.com/financ...-b-u-font.html
https://www.askmehelpdesk.com/faq.php?faq=vb_faq

-a guy called G Frings starts a business with $10500 cash.
-he put 9000 of the cash into the $bank.

What happened to the other $1500?? When you start a business with cash, you stick in all the in bank. I don't even get that.

I also noticed none of the sales give a cost. Is this periodic method?

please help,and as I am new,please be simple with your possible solution... thnx a bunch.

Sorry, but there isn't a way to be "simple" about it. You have a bunch of journal entries here. Do you know how to do the entries? The very basics of entries is an entire chapter and cannot be explained in a forum situation like this. You can post your entries if you like. In fact, that might be better than posting the trial balance. You can ask specific questions about any of them. But it's certainly not going to be "simple" to just explain in a post how to do entries. You've got to give us something to go on.

[roomi07]

@morgaine300

Thanks a llot... and I am sorry for the mishaps.I have followed the steps you told me to do,and iafter trying twice,I was able to do it accurately.one thing that I want to say is that I really did not mean for you to do my homework for me.my teacher wouldve has done it for me.but iwanted to do it myself.and with your guidance,I have done that,thanks a lot.next time,I will try to give more details and,yes I know the entries thing,thanks a lot.sorry again... :)

[morgaine300]

Glad you got it worked out. Sometimes when we're lucky it's one little math or copy error somewhere.

[roomi07]

Yeah... and dats what makes the difference...